Artificial intelligence has transformed almost every industry, and now it is penetrating into process, making them faster and more efficient.
Artificial intelligence is enabling business processes to become smarter, faster and advanced. It is a key facilitator into streamlining operations and helping businesses achieve their goals and missions. It is the umbrella, which holds various processes, such as machine learning, deep learning, robotics, computer vision, cognitive computing, natural language processing and knowledge reasoning. By incorporating the right Artificial intelligence technology, businesses are able to:
* Save time and money by automating routine processes and tasks
* Increase employee productivity and operational efficiency
* Facilitating quicker decision making
* Increase revenue by identifying and maximising sales opportunities
Here are 5 examples of how Artificial intelligence can be implemented to enhance business processes:
#1. Create an Unforgettable User Experience
As Artificial intelligence technology advances, more and more businesses and brands will use Artificial intelligence to customize the user experience. They will use Artificial intelligence to analyze data on buying trends, browsing history, web traffic metrics etc. Businesses will also make use of Artificial intelligence to predict customer behaviour by making use of past data and insights. They will also make use of chatbots in order to enable 24*7 customer support, which will enhance customer experience.
#2. Change How We Use Social Media
Social media has already changed the way businesses are conducted. But Artificial intelligence is poised to have an impact on social media as well, paving way for real-time personalized content targeting with the artificial intelligence of creating increased sales opportunities.
#3. Fraud Prevention
Thanks to Artificial intelligence, company data and transactions are now more secure than they have ever been. Artificial intelligence -powered fraud detection tools as well as blockchain networks make data security far easier by leveraging automation, machine learning engines, natural language processing, speech and video recognition.
#4. Transform online presence
Companies will be heavily investing in optimizing their online presence in order to sustain in this highly competitive environment. Not just that, Artificial intelligence techniques, such as deep learning and generative adversarial networks, can be applied to enhancing online security as well.
#5. Finding the Best People
Artificial intelligence is completely transforming the recruitment scenario, overcoming one of the biggest hindrances to the manual process – human bias. With Artificial intelligence, the time taken in screening and short-listing candidates can be reduced dramatically. Artificial intelligence also helps find the best match for a particular job opening.
Many executives and managers have spoken in favour of artificial intelligence transforming businesses.
Jeff Wong, EY Global Chief Innovation Officer, says: “As businesses deploy artificial intelligence strategies, they’re increasingly aware of how the roles, responsibilities and skills of their talent is changing. With artificial intelligence taking a leading role on tackling organizations’ simple and repetitive tasks, the human workforce can focus more on complex work that ultimately provides a greater level of professional fulfilment to employees and a more efficient use of critical thinking power.”
Chris Mazzei, EY Chief Data & Analytics Officer and Global Innovation Technologies Leader, says: “While we’re seeing momentum in businesses deploying artificial intelligence more strategically across the enterprise, its application is often fragmented across business functions, leaving much of the potential untapped.”
Therefore, organizations must exploit the power of artificial intelligence throughout the business.